Sir Paul and former Lipa student Liz White, who recently starred alongside Daniel Radcliffe in the film The Woman In Black, were shown around the newly-acquired building by Lipa chief executive and co-founder Mark Featherstone-Witty.

Sir Paul said: "As well as reuniting two landmark Liverpool buildings, I'm glad that this also brings back together George, John and myself.

"Aside from being a building we brought back from the brink, Lipa is now contributing as Mark and I dreamed all those years ago."

Sir Paul and Featherstone-Witty co-founded Lipa, which opened in 1995 to train performers and others in the showbusiness industry.

Featherstone-Witty said: "There are sound business reasons why we are buying the building next door, but there's no denying the romance of bringing together two buildings where three Beatles once did their learning.

"I'm glad that this historic building will not become yet another boutique hotel or, yet again, turned into flats. It'll be used for what it was intended - learning."

Sir Paul, who mentors graduating singer-songwriters from Lipa, also answered questions from students at the institute during his visit.